Monitoring the fetal ECG (FECG) gives us important information about the fetal wellbeing. FECG is a complex waveform where each of the P through T complexes provides wealth of information. The objective of this project is to develop the best state-of-art real-time FECG monitoring system using embedded microprocessors. Many researchers from various fields like signal processing, artificial intelligence, and advanced statistics, have applied different techniques to extract FECG from the mixture of MECG and other noises and calculate the FHR, with accuracy as an objective. Most of them are calculation intensive and not real-time. The proposed approach focuses mainly on real time processing, robustness and portability of the system. The work discussed here will provide a novel algorithm to extract FECG from abdominal ECG (AECG) which is mixture of FECG, MECG, and noise, and finding Fetal FHR with less number of dimensions (measurements) with the best signal-to-noise ratio. This approach is tested on different soft-core processors and results are compared with other commercial of-the-shelf (COTS) hardcore solutions, in terms of power, cost, size and speed. In the end FECG was successfully extracted and identified on the basis of BPM and SNR values calculated using this method. It was found that hard-core processor (ARM Cortex A9) has achieved the best real-time performance among all.